$MRNA · Moderna, Inc.
Moderna reported Q3 2026 results: total revenue of $1.313B, up 29% from $1.016B a year earlier, with GAAP net income of $162M versus a $200M loss in Q3 2025. Diluted EPS was $0.38 versus a $0.51 loss. The company raised its full-year 2026 revenue growth outlook to 15%–25% (from up to 10%), improved its GAAP operating expense outlook by ~$0.2B, and lifted expected year-end cash to $8.1B–$8.3B. Cash and investments stood at $8.0B as of September 30, 2026.
- Q3 revenue rose 29% to $1.3B, driven by higher international COVID vaccine sales.
- Net income was $162M, a $362M improvement from a $200M loss in Q3 2025.
- 2026 revenue growth guidance raised to 15%–25% from up to 10%.
- Year-end 2026 cash outlook lifted to $8.1B–$8.3B from $4.7B–$5.2B.
- Positive Phase 3 intismeran data showed 42% reduction in recurrence/death risk in melanoma.
Extended-hours last trade $262.69, up +8.79% vs the $241.46 regular close, reflecting a positive reaction to the beat and raised guidance.
Moderna's return to profitability plus a doubled revenue-growth outlook signals a durable commercial inflection beyond COVID.
Moderna's guidance raise and swing to profitability contrast with a broader biotech backdrop of cost discipline, while the $3.0B convertible notes offering strengthens its balance sheet for oncology investment.
Norovirus vaccine mRNA-1403 Phase 3 interim analysis missed early-success criteria, and the program's path forward is uncertain. The flu/COVID combo vaccine still awaits FDA guidance on U.S. refiling.